• In Today’s Story, we take a closer look at Q2 2019 results of Orascom Construction’s (ORAS) released last week, including the key highlights of its conference call. Revenues rose 5% y/y in Q2 2019 to USD790mn, mainly driven by the MENA segment, of which revenues grew by a solid 21% y/y to USD579mn. Meanwhile, blended EBITDA improved by 39% to USD72mn in Q2 2019, helped mainly by the MENA segment, of which EBITDA rose 20% y/y to USD70mn. Net income attributable to shareholders plunged by a blended 38% y/y to USD31mn in Q2 2019, as higher interest expense, FX losses, and lower interest income ate up the growth in EBITDA. Below are the key highlights we noted from the conference call.
For more details, please read the full report below.